South Korea's Financial Services Commission failed to submit a bill regulating the Korean won stablecoin on time.

According to Odaily, South Korea's ruling party had previously called on all ministries and the Financial Services Commission (FSC) to submit a bill regulating the won-denominated stablecoin by December 10th. However, the FSC failed to submit the bill on time. A spokesperson for the agency stated that the FSC needed more time to coordinate its position with relevant agencies, and rather than rushing to complete the proposal before the deadline, it would be better to publish its proposal at the same time as submitting it to the National Assembly. (Newsis)